Tue
Feb 28 2006
06:57 am

At the time of the Cabinet vote, Gallagher (Florida's Chief Financial Officer) held 1,000 shares worth about $8,000 in the $11 billion company. He didn't announce his stock ownership before voting, though he included his trading in annual, public disclosure forms.

Gallagher said it was an oversight that he never declared his stock holdings before voting on the pipeline. "I didn't even connect the two," Gallagher said. " ... I only had 1,000 shares at the time."

Hmm, a CFO that cannot connect voting for a company to receive a government bid and the personal sale of said company's stock. Maybe he should be fired on the spot. And, then, of course, he didn't even net a profit on the stock sale. Apparently, according to the St. Petersburg Times, "Gallagher invested in insurance companies while he was the state's insurance commissioner, and in an airline that had a contract with the state".

Is it time for Florida to return a Democratic governor to the office, someone like Lawton Chiles or Bob Graham? Maybe Rod Smith is the answer. I do not know. Time will tell.

 

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